Japan is closely monitoring currency moves to ensure foreign exchange rates remain stable and reflect economic fundamentals, Finance Minister Shunichi Suzuki said Tuesday after the dollar topped the ¥142 line, a seven-month high.
Following the removal of Japan from a U.S. currency watch list, Suzuki said the country will maintain close communication with the United States and other nations, and take “appropriate” steps regarding currency policy.
“Dollar-yen levels are determined by markets and based on fundamentals, but they should move stably. This is our basic stance,” Suzuki said during a news conference. “We are continuously monitoring developments in foreign exchange markets.”
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